Relaxed game ends on schedule (5)
I believe the answer is:
loose
'relaxed' is the definition.
(I've seen this before)
'game ends on schedule' is the wordplay.
'game' becomes 'loo' (historic card game found in Jane Austen novels).
'ends on' says to hollow out the word (remove centre letters) (the letters at either end of the word).
'schedule' with its middle removed is 'se'.
'loo'+'se'='LOOSE'
(Other definitions for loose that I've seen before include "Not secured" , "Grant freedom to" , "Not fixed; inexact" , "(Of a garment) a size too big?" , "Lax or at large" .)